SHANGHAI, May 26 (SMM) – SHFE 1607 lead will remain weak and move between RMB 12,600-12,750/mt on May 26.
US initial jobless claims may post declines in the week ending May 21, supporting US dollar. This will impose pressure on lead prices.
LME lead will range USD 1,620-1,640/mt during Asian trading hours Thursday. In China’s spot market, traders are eager to sell and operating rates stabilize at battery producers. But demand still stays soft and buyers take a wait-and-see stance with continuous falls in SHFE lead. Spot lead should trade at RMB 12,650-12,800/mt today.
Key Macroeconomic Indicators for Base Metal Prices (2016-5-26)
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